What type of account is retained profits?
A) Asset
B) Liability
C) Income
D) Equity

Name: What type of account is retained profits? A) Asset B) Liability C) Income D) Equity
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Question

Quizplus · Accepted Answer

Retained profits are a part of the equity section in the balance sheet, as they represent profits earned by the company that have been retained or reinvested rather than paid out to shareholders as dividends. Therefore, the correct choice is D - Equity.

What Type of Account Is Retained Profits